View
222
Download
0
Category
Tags:
Preview:
Citation preview
Frustrated with your sales numbers?
Learn best in class sales practices
What We Want to Accomplish Today…
• Generate more revenue from your current marketing budget
• Gain confidence that if you spend more in marketing, you will get more in return
3
Things We Will Cover:
• Common mistakes that hurt sales numbers
• How timing plays a vital role in closing a deal
• Why calling more than once can be the difference between making a sale or losing a sale
• You can’t manage things you can’t measure
4
It Takes Both Quality Leads and Excellent Sales Practices to Successfully Grow Revenue
x =Quality Leads Sales Excellence Revenue Growth
Source: Leads360
57% of success is based on lead quality
43% is based on sales excellence
Note: Because both marketing and sales sometimes point to the other side as the issue, tracking even more critical shedding light on issues that may block revenue growth.
5
What is a Quality Lead?
• A buyer that voluntarily shows interest…
• For products and services you sell…
• In your specific areas…
• That you didn’t have before…
• And is cost-effective.
6
Common Mistakes
• Companies don’t adapt to prospect’s changing buying habits
• Companies don’t update processes and technologies
• Poor response times to marketing-generated leads
We have seen this in every industry…
7
Case Study-Response Audit
The most recent Response Audit targeted the 3,051 attendees and sponsors of Salesforce’s Dreamforce 2011
8
Even Top Companies Fail to Meet the 5 Minute Response Time
Immediacy of Response
Attempt Type Average Response Time
Phone Calls 1 Day, 18 hours, 15 minutes
Email 19 Hours , 14 Minutes
Overall Average response time 42 Hours
FAIL FAIL
FAIL
9
Let Pretend….
Lets pretend you walk into Best Buy to buy that 60” LCD
TV you’ve been wanting for the upcoming football season
And as you approach the salesman his response is…
“Come back in - 1 day, 18 hours and 15 minutes"
Shocked?
10
Even Top Companies Fail to Response Persistently
Persistency of Response
Metric ResultsAverage # of Phone Calls Made to New Leads 1
Average # of Emails to New Leads 0.9Percent of Companies that Never Responded 51.4%
11
FAIL
FAIL
FAIL
Summary of the Dreamforce Audit
The audit concludes that even top companies :
• Don’t call fast enough
• Don't call persistently enough
• Don’t call every lead
12
What is the Cost of Losing a Quality Lead?
• Wasted time
• Giving competitors an advantage • Loss of revenue
• Waste of marketing effort Almost half of B2B leads are never called!
13
A Trend You Don’t Want To Follow
You have to ask yourself:
• Do you know your team’s response time?
• Do you know how many attempts your reps are making to reach each new lead?
• Are your reps calling EVERY lead?
14
Timing Makes All the Difference in the World
15
More Calls Increase the Odds of Contacting a Prospect
16Source: Insidesales.com
Success with Leads Goes Up With Fast Call times
16
Expected Contact Rate Expected Close Rate0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
39%
78%
15%
19%
5%3%
Contact Rate x Close Rate = Success
< 5 Minutes5 to 30 Minutes30+ Minutes
Can’t Manage What You Can’t Track
18
85% of Companies Do Not Track Online Lead Performance
• What makes tracking relevant data so challenging?• Most businesses have multiple sources of leads• Software systems can be complex
• Tracking leads in a CRM or spreadsheet requires new processes
• Determining critical metrics is not always obvious• Most sales reps are not particularly detail oriented• Basing decisions on data often more difficult than telling stories
about one bad lead or one great sale
You Can't Manage What You Don’t Measure
19
360Partners Team Recommendations for Improving Sales
• Call Fast • Call within the first 5 minutes of receiving the lead• 78% of customers choose the first person that calls
• Call Often • Call 6 times and get a 93% contact rate• Email with each call attempt
• Call Everyone • Avoid “Cherry Picking” - call every lead• Use appointment setters to qualify your leads• Let your best sales people do the selling and closing
• Track your progress• Know the problem you are trying to resolve• Track the key performance indicators for your goals
20
Take the 360 Challenge
• Take 2 Reps
• For 2 Weeks
• Follow these basic principles we just talked about
• And see if your revenue increases
• It won’t cost you anything but time to implement the program
• And tell us about your success
21
Questions?
22
Recommended